PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Paint and Coatings Industry News

Main News Page


Dow to Buy Rohm and Haas under New Terms

Wednesday, March 11, 2009

Comment | More

The Dow Chemical Company (Midland, MI) announced that it has reached agreement with Rohm and Haas Company (Philadelphia, PA) to permit Dow to close on its acquisition by April 1, 2009, on financial terms substantially altered from the ones originally set in 2008. The agreement resolves litigation Rohm and Haas initiated against Dow on January 26, 2009.

Rohm and Haas’s two largest shareholders have agreed to purchase $2.5 billion in face value of perpetual preferred equity issued by Dow. The Haas Family Trusts will make an investment in an additional $500 million of Dow’s equity. Dow said that it has restructured the transaction to pay the equivalent of $63 per share in cash and $15 per share in face value of preferred equity securities. The financing for the acquisition also includes equity investments of $3 billion by Berkshire Hathaway and $1 billion by the Kuwait Investment Authority (KIA).

According to the Dow, it has also started an aggressive asset divestment program expected to yield $4 billion. Divestments from this program will address the cash shortfall created by the failure of the K-Dow transaction.

Dow is a diversified chemical company, and Rohm and Haas creates and develops solutions and technologies for the specialty materials industry. Both companies make products for high-performance coatings.

More information on this transaction can be found at www.dow.com.

   

Tagged categories: Acquisitions; Dow Chemical Company; Raw materials; Rohm and Haas

Comment Join the Conversation:

Sign in to our community to add your comments.

DeFelsko Corporation
PosiTector Dew Point Meter

Measures and records
environmental conditions
during surface prep and
painting. 4 Models
Available – Standard
or Advanced features,
Built-in or Separate probe.


Waterjet Technology Association (WJTA)
HP Waterjets, Related Products for Paint/Coating Removal, Surface Prep

www.wjta.org
. Networking
. Education
. Systems, Equipment
. Safety, Business Tips
314-241-1445


Safway Services
Suspended Access Made Easy With QuikDeck™

The smart choice for suspended access, QuikDeck’s interchangeable, lightweight components make them easy to set up and reassemble when you need to move.


CESCO
USED EQUIPMENT SPECIALS

Jet Edge water blast cabinet 1995 Model 36-100, excellent condition
Sponge Jet 240L feed unit with a recycler unit
Hotsy Trailblazer
Schmidt pot, 6 ton with 4 outlets, TVII valves, 12V line with controls, Halo safety loading feature, 4 factory welded post for jumbo sack rack
Contact us: 888-772-3726
BlastandPaint.com


Mitsubishi Gas Chemical America
Performance Amine 1,3-BAC

A highly reactive cycloaliphatic diamine offering superior performance. Reasonable cost and curing efficacy makes it suitable for all types of epoxy resin applications.


Corrosion Probe, Inc.
From Detection to Correction

Corrosion Probe, Inc. has the Most Concrete Coatings Experience and Expertise. Contact us today at
860-767-4402, www.cpiengineering.com


N.T. Ruddock Co.

Our Abrasives Hold Up Under Pressure

N. T. Ruddock focuses on abrasive selection, equipment evaluation, equipment maintenance & reduction of abrasive consumption. Other services include Screen Analysis & Background Radiation Testing.

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com